Slide 1: Half-Year Financial Report 1 January–30 June 2024
Half-Year Financial Report 1 January–30 June 2024
Slide 2: Q2/2024: Taking strides in product, service and technology development
Q2/2024: Taking strides in product, service and technology development Revenue growth 19.6%, driven by Lookout Life acquisition - organic growth remained modest 1.9% Partner Channel performance mixed; subscriber numbers and average revenue per user (ARPU) increased, but challenges continued with som
Slide 3: Q2/2024: Partner Business focus continued
Q2/2024: Partner Business focus continued Strategic focus: Progress: fF F-secure. Increase average revenue per user (ARPU) Accelerate the roll-out of F-Secure Total New Total release, a major milestone in terms of design, feature improvements and launch of entirely new features Healthy growth in Tot
Slide 4: Acquisition of Lookout consumer business
Acquisition of Lookout consumer business Integration completed and technology independence achieved One year since the acquisition of Lookout Life, Lookout consumer security business: + Integration completed at the end of 2023 and technology independence from Lookout fully achieved at the end of May
Slide 5: Trusted companion
Internet Privacy Browsing & Privacy Protection Security Phishing Protection Protection Trusted Device companion Identity Monitoring Protection & Breach alerts Identity Protection Family Password Rules Vault Messaging Breach Scam Protection Report Protection Home Smart Home Shopping Protection Protec
Slide 6: Scam Protection – highlight of Total release in June
Scam Protection – highlight of Total release in June NEW! Shopping Protection Mobile Desktop Shopping Protection works in the browser showing trust rating of online stores while browsing. Available on all platforms, now also in native mobile browsers. NEW! Banking Protection Mobile Desktop Banking P
Slide 7: New protection capabilities driving engagement
New protection capabilities driving engagement Privacy Advisor for Android Shopping Protection for Native Mobile Browsers fis @BO wre) (3 @De ® zalando RUA ® zalando Rg =| etsituotteta Q tsi uoteita Your device is protected fF F-secure Lapset Safe Browsing Extension Close % e@ This shopping website
Slide 8: Financials
ft: F-Secure. Financials Sari Somerkallio, CFO F-Secure changed the calculation method for gross margin in its income statement as of 1 January 2024. Comparative figures for 2023 are also revised.
Slide 9: Revenue up by 19.6%, organic growth 1.9%
Revenue up by 19.6%, organic growth 1.9% Currency neutral organic growth 2.3% Revenue by geography « — Partner Channel: Revenue increased by 19.8% to EUR EURm Currency 29.4 million (EUR 24.5 million). Organic revenue 9 Change % neutral% growth 2.4%. . Subscriber numbers and average revenue per 36.5
Slide 10: Current Non-current
27.9 25.6 25.9 23.4 22.8 Current Non-current
Slide 11: Different payment models in channels
Different payment models in channels Key dynamics of revenue recognition Share of annual revenue 20-30% a b RS fF F-secure. Payment Channel Deferred revenue (recognized over contract period) Pre-payment Direct Business & Retail” Ys @ Direct Business ~1 year Retail typically 1-3 years Compensation fo
Slide 12: Operating expenses in Q2/2024
Operating expenses in Q2/2024 OPEX* development in Q2 EURM Cou%> ? OPEX, | % of revenue 18.2 18.1 10% (9%) 16% (20%) 24% (30%) Q2 2023 Q2 2024 ™ Sales and marketing ™ Research and development ® Administration fF F-Secure. * Excluding Items Affecting Comparability (IAC) and depreciation and amortizat
Slide 13: Continued transitional services agreements with Lookout
Continued transitional services agreements with Lookout Transitional services agreements (‘TSA’) between F-Secure and WithSecure terminated at the end of 2023. TSAs entered between F-Secure and Lookout consumer security business started in June 2023. TSAs in R&D and cost of revenue are planned to la
Slide 14: 45.0 40.0% 40.0 90.0% 35.0% 35.0 30.0% 80.0% 30.0 12 25.0% 70.0% 25.0 10
45.0 20 40.0% 40.0 90.0% 18 35.0% 16 35.0 30.0% 80.0% 14 30.0 12 25.0% 70.0% 25.0 10 20.0% 20.0 60.0% 8 15.0% 15.0 50.0% 6 10.0 10.0% 4 40.0% 5.0% 5.0 2 0.0 30.0% 0 0.0% • • • 14
Slide 15: 5.1 3.5 22.9 10.9 24.1 24.2 19.9 20.8
5.1 3.5 22.9 10.9 24.1 24.2 19.9 20.8 15
Slide 16: 150.0% • 20.0 100.0% 15.0 • 50.0% 10.0 0.0% • 5.0 -50.0% • .0
150.0% • 20.0 100.0% 15.0 • 50.0% 10.0 0.0% • 5.0 -50.0% • 0.0 -100.0% 16
Slide 17: 325.0 3.8 3.6 275.0 3.4 3.2 225.0 3.0 2.8 175.0 2.6 2.4 125.0 2.2
325.0 3.8 3.6 275.0 3.4 3.2 225.0 3.0 2.8 175.0 2.6 2.4 125.0 2.2 2.0 75.0 1.8 1.6 25.0 1.4 1.2 -25.0 1.0 17
Slide 18: Outlook for 2024 (unchanged)
Outlook for 2024 (unchanged) Growth F-Secure estimates that revenue for 2024 Profitability The group's adjusted EBITA is expected to be in the range of EUR 48-54 million. fF F-secure. will be in the range of EUR 142-152 million. ls Background for the outlook + F-Secure expects the consumer cyber sec
Slide 19: Financial calendar
f F-Secure. Financial calendar Interim Report January-September: Thursday 24 October 2024 Save the date - Investor Day: Wednesday 20 November 2024
Slide 20: Q&A
[\2 F-Secure. Q&A